Analyst: Bitcoin Doesn't Need to Wait for Gold and Silver Pullback, Can Still Extend Its Uptrend

BlockBeats News, December 28th, according to Cointelegraph, analysts stated that Bitcoin does not need to wait for a pullback in gold and silver to continue its upward trend. Glassnode's Chief Analyst, James Check, stated that this is an "unexpectedly unpopular view," and added that those who believe Bitcoin must wait for a precious metals pullback "do not truly understand these assets."

Macro economist Lyn Alden also expressed a similar view. She stated that although "many people describe it as a competitive relationship," she "does not agree with that view." Alden stated that the recent strength of Bitcoin relative to gold is because Bitcoin has been in a "stagnation phase" over the past year, while gold has had "a very impressive year. Both of these assets have long-term structural logic behind them."

Multiple Bitcoin industry executives expect the current downtrend to reverse by 2026. Bitwise's Chief Investment Officer Matt Hougan stated, "Bitcoin will rise next year." Jan3 founder Samson Mow stated that Bitcoin may be on the verge of starting a "decade-long bull market."